Stocks to watch: Tata Steel, Paytm, Go Fashion, BoB, Lupin, IndiGo, PSB
Major benchmarks are expected to start on a lukewarm note due to high crude oil prices and mixed global signals. As of 08:00, SGX Nifty futures were quoted at 17,445 against the NSE Nifty spot close of 17,516 on Friday. In the meantime, here are the top stocks set to trade on Monday.
Revenue monitoring: Castrol India, Compuage Infocom, Fortis Malar Hospitals, GlaxoSmithKline Pharma, Indian Bank, Indo Count Industries, KPR Mill, Minda Industries, National Aluminum (Nalco), Nucleus Software, Paisalo Digital, The Phoenix Mills, PB Fintech (PolicyBazaar), Precision Wires , Sharon Bio Medicine, SH Kelkar and Company, Simplex Realty, Talbros Engineering, Tarsons Products, TCPL Packaging, Texmaco Infra, Texmaco Rail, Tube Investments of India, Transformers and Rectifiers, TVS Motor Company and Union Bank of India are among the companies for announce results for the December quarter today.
Tata Steel: The company reported consolidated profit after tax of Rs 9,598 crore in the December quarter, up 139% from the same period last year. Revenue increased by 44.9% to Rs 60,783 Crore on an annual basis. READ MORE
Bharti Airtel: The African arm of the telecommunications operator reported a net increase of 54.4% year-on-year to $180 million for the December 2021 quarter. Underlying revenue increased 17.9% in $1.22 billion year-on-year. It increased by 20% at constant exchange rates.
Meanwhile, parent company Bharti Airtel plans to spend around Rs 1.17 lakh crore on business deals with its subsidiaries like Indus Towers, Nxtra and Bharti Hexacom over the next five years. READ MORE
Payment : The fintech major saw its revenue rise 89% year-on-year to Rs 1,456 crore in the December quarter, while net loss widened 45% year-on-year to Rs 778 crore. However, the company said its contribution profit improved to 31.2% of revenue in the third quarter of FY22 from 8.9% in the third quarter of FY21. READ MORE
PSB: The major public sector banks (PSBs) have raised their credit growth target for the current fiscal year. This follows the recovery in demand from the corporate sector and small and medium-sized enterprises (SMEs), even as a nascent economic recovery takes shape.
Regular commercial bank credit growth had accelerated to 9.2% year-on-year at the end of December 2021 after crossing the 7% mark in November for the first time since April 2020. READ MORE
NBFC: Some NBFCs (Non-Banking Financial Companies) are in exploratory talks with the Reserve Bank of India (RBI) on the possibility of allowing the former to issue credit cards on a stand-alone basis under a one-of-a-kind initiative . So far, NBFCs can only issue credit cards co-branded with banks. READ MORE
SBI: The country’s largest public sector bank has lined up six non-performing assets (NPAs) for sale to asset reconstruction companies (ARCs) to recoup dues of almost Rs 406 crore, according to a PTI report. Interested CRAs/banks/NBFCs/FIs can carry out due diligence on these assets with immediate effect, the report adds.
Bank of Baroda (BoB): The public sector lender’s net profit doubled to Rs 2,197 crore in the October-December quarter (Q3FY22), helped by higher net interest income and lower provisions. Net interest income jumped 14.4% year-on-year to Rs 8,552 crore, helped by margins. READ MORE
Go fashion: The company reported a jump of 33.4% year-on-year in Q3FY22 net to Rs 23.69 crore from Rs 17.76 crore in Q3FY21. Total revenue increased by 40.2% year-on-year to Rs 145.22 crore.
Adani green energy: Three arms of the company have collectively raised Rs 612.30 crore through their first national bond issue on the basis of private placement for debt refinancing. The company said the proceeds from the issuance will be used to partially refinance the existing higher interest bearing rupee term loan. READ MORE
Godrej properties: According to a report by PTI, the company expects record sales bookings in this quarter, beating the previous high of Rs 2,632 crore, driven by new launches of about 10 housing projects amid strong recovery in demand.
Furthermore, the Mumbai-based property developer has canceled plans to invest Rs 700 crore in DB Realty to acquire a 10% stake and set up a common platform amid concerns raised by minority shareholders and other stakeholders. READ MORE
Lupine: The company reported a 24.5% year-on-year increase in its consolidated net to Rs 545.5 crore for Q3FY22. Sales increased by 4.3% year-on-year to Rs 4,087.5 crore from Rs 3,917.3 crore.
Indigo: The country’s largest airline has returned to profit after posting seven consecutive quarters of losses. The company recorded a profit of Rs 129.79 crore in the December quarter of FY22, mainly on the back of higher revenues and returns. Net income soared 89% year-on-year to Rs 9,294.77 crore. READ MORE
Bank of India (BoI): PSU Bank’s net profit jumped 90% year-on-year to Rs 1,027 crore in Q3FY22 due to a sharp drop in provisions and contingencies. The bank’s NII declined by 8.8% year-on-year to Rs 3,408 crore from Rs 3,739 crore in Q3FY21. READ MORE
Addiction: Jio Platforms led by Mukesh Ambani has acquired a 25% stake in Silicon Valley-based deep tech start-up Two Platforms (TWO) for $15 million around Rs 112 crore. The latter is an artificial reality company that focuses on creating interactive and immersive AI experiences. READ MORE
Gulf Oil lubricants: The company has scheduled its board meeting for February 9 to consider a proposed share buyback.
Ujjivan Small Finance Bank: The bank significantly reduced its losses in Q3 during the quarter ended December 2021. The bank reported a net loss of Rs 33.83 crore for Q3FY22 while the net loss in Q3FY21 stood at Rs 278.83 crore . Total revenue edged up by 1.6% year-on-year to Rs 798.69 crore.
IndusInd Bank: The bank has filed for bankruptcy against Zee Entertainment Enterprises in the Mumbai Bench of the National Company Law Tribunal (NCLT), claiming default of Rs 83 crore.
Ready yet : The battery maker reported a net decline of 51.4% YoY to Rs 23.71 crore for the third quarter ended December 31, 2021. Operating revenue fell 4.2% YoY to Rs 325.88 crore.
Shree cements: The company recorded a 23.6% year-on-year decline in its consolidated net profit to Rs 482.70 crore for Q3FY22. Its operating revenue increased by 2.24% year-on-year to Rs 3,637.11 crore.
Birla Society: Flagship company MP Birla Group reported a 59.3% year-on-year drop in net profit to Rs 60.45 crore in the December quarter as cement demand contracted in key markets. Revenue fell 3.6% year-on-year to Rs 1,757 crore. READ MORE
IL&FS: Beleaguered Infrastructure Leasing & Financial Services (IL&FS) said it has completed the process of selling its 35% stake in Warora Chandrapur Ballarpur Toll Road Limited (WCBTRL) to majority joint venture partner Vishvaraj Infrastructure Limited (VIL), resolving a debt to the amounting to Rs 324 crore of its overall debt of Rs 99,000 crore. READ MORE
Aditya Birla Fashion and Retail (ABFRL): The company plans to build a platform to make a foray into the direct-to-consumer (D2C) space. The business will initially be funded by ABFRL’s internal accruals and, when appropriate, the business will seek to raise external capital to accelerate growth, the company said in its statement. READ MORE